Apple iPad Mini -- the recently launched Apple tablet is doing extremely well in almost all the markets, when the competition to 7-inch tablet market is concerned. Following on the same lines has some the newest report surrounding the Cupertino-based giant upcoming lineup for 2013 release.

According to Brain White of Topeka Capital Markets, the new updated versions of regular iPad and iPad mini are already in works, and he has emphasized citing the industry sources at this week's CES event in Las Vegas that both iPad 5 and iPad Mini 2 are coming in March 2013.

Going by the past records, the company follows the same strategy of periodically launching iterations of its successful models, in order to keep the product line upgraded with new features. Plus, when it comes to iPad lineup, the company seems to have started the twice a year refresh cycle already in the year 2012.

iPad Mini 2 and iPad 5 -- What Features to Expect?

Further, in the report, Brain White also added that apart from being lighter and thinner than the fourth generation iPad, the upcoming full sized tablet will also feature a new A6X processor and the smaller Lightning chip, however, it will retain the same design as the new iPad, which was announced in March 2012.

As for the iPad mini, White said the second-generation device is expected to have the same form factor. A new model would likely just have upgraded components, such as a faster chip. Further, there was no word regarding the Retina Display in the new iPad Mini, while earlier reports suggest its presence.

It should be noted that Apple did not attend CES, nor does the company set up any stall at the tech event, however, several industry insiders attend the event and maybe that is how Brain White got all the inside information.

Last week, White had also informed that Apple will be launching its next iPhone, the iPhone 5S in multiple colors and sizes. The next iPhone is expected to be available in eight colors including the pink, yellow, blue, green, purple, silver and slate shades that are currently found on iPod nano.